Amendment status not verified — confirm the current text below against the official source.
33. (1) There shall be a fund of the University to which the following shall be credited: - (a) any contribution or grant made by the State Government; (b) any contribution or grant made by the University Grants Commission or the Central Government; (c) any bequests, donations, endowments or other grants made by private individuals or institutions; (d) income received by the University from fees and charges; and (e) amounts received from any other source; but shall not include any funds received from any agency for sponsoring a scheme. (2) The amount in the Fund of the university shall be kept in a scheduled Bank as defined in the reserve Bank of India Act, 1934 (Act no. 2 of 1934) or in a corresponding new bank constituted under the Banking Companies (Acquisition and transfer of Undertakings) Act, 1970 (Act no. S of 1970) and the Banking Companies (Acquisition and transfer of Undertakings) Act 1980(Act no. 40 of 1980) or may be invested in such securities authorized by the Indian Trusts Act, 1882 (Act no. 2 of 1882) as may be decided by the Executive Council. (3) The fund of the University may be utilized for such purpose of the University and in such manner as may be prescribed.